2021-07-15 Leeward Exh D (Amend SMA 286)

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VITOUSEK: Go ahead, Commissioner Van Pernis, you had your hand up first. Go ahead, Commissioner Van Pernis. You are, you are not on mute, you can speak now. Commissioner Van Pernis, you may speak. You are not on mute,you don't need to unmute it, you can just speak VAN PERNIS: Okay VITOUSEK: Yep. VAN PERNIS: am I heard? VITOUSEK: Yes. VAN PERNIS: I would ask the applicants. You bought this project, and when was that? When was this project purchased? FUKE: My understanding, Commissioner Van Pernis, is that the applicant bought the property, or got interest in the property, either in 2013 or 2014, and shortly thereafter they sought the time extension. VAN PERNIS: Okay, so they bought the project with the previous permits in place. FUKE: That's correct. VAN PERNIS: I assume they paid a great deal for it. Do they, does this purchaser also sell projects such as this? FUKE: You mean developed or undeveloped projects? VAN PERNIS: Undeveloped pro-well, projects such as this which are not fully developed. FUKE: I can't speak for that directly, but if Pacifica Big Island, Big Island Pacifica LLC or any other like developer, they'll either do a joint venture, sometimes they sell, sometimes they develop, you know, I've seen that happen all over. So I can't definitively state that, you know, what's going to happen like next year, and so they'll keep if for the next five or 10 years. VAN PERNIS: Oh, so it's possible that this project would be sold, like these applicants purchased it. Would they possibly sell it? FUKE: It's like, it's no different than a person applying for a single-family zoning, you know, and later on selling a portion of the, a portion or all of the properties. And so I think the critical thing in evaluating, from my point of view, evaluating land use request are, you know, is essentially, does the project meet the criteria, do you have the appropriate infrastructure to address the development, regardless of who the developer is. 19 EXHIBIT D